GulfHindi English Desk: Good news for Sahara Group investors, as the Modi government is set to launch the Sahara Refund Portal on July 18th. This portal will facilitate the refund process for depositors, ensuring that they receive their money back.
The launch of the refund portal will be conducted by the Minister of Cooperation, Amit Shah, on Tuesday. It is aimed at validating the claims of the actual depositors of Sahara Group’s four cooperative societies.
The government had previously announced that within 9 months, approximately 10 crore investors of Sahara Group’s four cooperative societies would receive their refunds. This announcement was made following the Supreme Court’s directive to transfer Rs. 5000 crore from the Sahara-SEBI refund account to the CRSAS (Central Registry of Securitisation Asset Reconstruction and Security Interest).
The Ministry of Cooperation has taken a significant step by introducing a special portal to simplify the claims process for Sahara Group investors. The portal will be inaugurated by Minister Amit Shah.
Here are some important details:
👉Portal Launch: July 18th, Tuesday
👉Number of investors: 10 crore
👉Refund period: 9 months
👉Refund amount: Rs. 5000 crore
👉Cooperative societies: Sahara Credit Cooperative Society Limited, Sahara Universal Multipurpose Society Limited, Hamara India Credit Cooperative Society Limited, and Stars Multipurpose Cooperative Society Limited.
This development brings hope to the investors who have been waiting for their refunds and marks a significant milestone in resolving the Sahara Group refund issue.
en.gulfhindi.com News Summary
👉The Sahara Refund portal is going to be launched by the Modi government on July 18th.
👉The portal aims to refund the depositors of Sahara Group their money.
👉The launch of the portal will be done by the Minister of Cooperation, Amit Shah.
👉The refund process is expected to be completed within 9 months.
👉The government had announced that approximately 10 crore investors of Sahara Group will be refunded by March 2023.
👉The Ministry of Cooperation has introduced a special portal to simplify the claim process for Sahara Group investors.
👉The portal launch date is July 18th.
👉The refund amount is estimated to be around 5000 crore rupees.
👉The refund process is a result of the Supreme Court’s order to transfer funds from the Sahara-SEBI refund account to the CRS account.
👉The four cooperative societies of Sahara Group are Sahara Credit Cooperative Society Limited, Sahara Universal Multipurpose Society Limited, Hamara India Credit Cooperative Society Limited, and Stars Multipurpose Cooperative Society Limited.
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